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Stockholders’ Equity
 12 Months Ended
Dec. 31, 2024
Stockholders’ Equity [Abstract]  
STOCKHOLDERS’ EQUITY

Note 10. STOCKHOLDERS’ EQUITY

 

Common Stock – Issuances of Securities

 

The Company issued 39,845 and 55,108 shares of common stock totaling $157,000 and $200,000 in payment of Director’s fees for the years ended December 31, 2024 and 2023, respectively. Such expense is included in Operating Expenses in the consolidated statements of operations.

 

The Company issued 15,229 shares, of common stock to net settle the exercise of stock options for the year ended December 31, 2024, respectively. There were no issuances of common stock due to the exercise of stock options for year ended December 31, 2023.

 

During the first quarter of 2025, the Company issued 9,185 shares of common stock in payment of Director’s fees totaling $39,000.

Common Stock – Sale of Securities

 

In December 2024 the Company issued and sold pursuant to a Registration Statement on Form S-3 declared effective on December 19, 2024, 116,851 shares of common stock for gross proceeds of $509,000 in an At The Market offering. Costs of the sale amounted to $182,000.

 

During the first quarter of 2025, the Company issued and sold pursuant to a Registration Statement on Form S-3 declared effective on December 19, 2024, 209,940 shares of common stock for gross proceeds of $903,000. Costs of the sale amounted to $49,000.